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Headquartered in its largest city Lagos, the First City Monument Bank (FCMB) Ltd. is one of Nigeria’s top banking groups with assets worth USD 4.4 billion. In 1977, City Securities Ltd was established, the entity out of which the First City Merchant Bank was founded in 1982. It was in 2001 that the bank’s name was changed to First City Monument Bank following which the bank was transformed into a universal bank.
The Bank was able to expand its national footprint and scale of operations further in 2012 when it acquired 100% shareholding of FinBank, an undercapitalized commercial bank of Nigeria. Today, the First City Monument Bank has a number of active non-bank subsidiaries that include FCMB Capital Markets Limited, FCMB (United Kingdom) Limited, CSL Stockbrokers Limited, and more.